Brokerages Set Westlake Co. (NYSE:WLK) Price Target at $131.31

Shares of Westlake Co. (NYSE:WLK - Get Free Report) have earned a consensus rating of "Reduce" from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $131.31.

Several equities analysts have recently issued reports on the company. Tudor, Pickering, Holt & Co. upgraded Westlake from a "sell" rating to a "hold" rating in a research note on Tuesday, January 2nd. Royal Bank of Canada decreased their price objective on Westlake from $139.00 to $134.00 and set a "sector perform" rating for the company in a research note on Monday, February 26th. Finally, UBS Group lifted their price objective on Westlake from $139.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, January 11th.

Westlake Trading Down 0.6 %

NYSE WLK traded down $0.89 during trading on Tuesday, hitting $153.37. The stock had a trading volume of 545,636 shares, compared to its average volume of 373,089. The company has a market capitalization of $19.66 billion, a PE ratio of 41.45, a PEG ratio of 1.63 and a beta of 1.30. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $142.74 and a 200 day moving average price of $133.61. Westlake has a twelve month low of $103.28 and a twelve month high of $154.46.

Westlake (NYSE:WLK - Get Free Report) last released its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.09). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Westlake had a net margin of 3.82% and a return on equity of 9.70%. The business's revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 earnings per share. As a group, equities research analysts forecast that Westlake will post 6.84 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake's dividend payout ratio (DPR) is 54.05%.

Insider Activity

In other news, CFO Mark Steven Bender sold 4,854 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the completion of the sale, the chief financial officer now directly owns 50,110 shares of the company's stock, valued at $6,893,632.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Robert F. Buesinger sold 3,878 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $144.50, for a total transaction of $560,371.00. Following the completion of the sale, the executive vice president now owns 21,144 shares in the company, valued at $3,055,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Steven Bender sold 4,854 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the sale, the chief financial officer now owns 50,110 shares of the company's stock, valued at approximately $6,893,632.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,658 shares of company stock valued at $1,923,225. 74.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westlake

Several large investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. purchased a new stake in shares of Westlake during the fourth quarter worth approximately $308,000. Price T Rowe Associates Inc. MD raised its position in Westlake by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,297 shares of the specialty chemicals company's stock worth $5,920,000 after acquiring an additional 109 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Westlake by 2.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 15,516 shares of the specialty chemicals company's stock worth $2,172,000 after acquiring an additional 332 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Westlake by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,896 shares of the specialty chemicals company's stock worth $3,484,000 after acquiring an additional 910 shares in the last quarter. Finally, Midwest Professional Planners LTD. raised its position in Westlake by 9.1% in the fourth quarter. Midwest Professional Planners LTD. now owns 1,948 shares of the specialty chemicals company's stock worth $273,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 28.40% of the company's stock.

Westlake Company Profile

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.